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Weapon Night Sight market By platform, the ground-based segment is anticipated to exhibit significant growth in the near future.
The weapon night sight market was valued at $1.0 billion in 2021, and is estimated to reach $1.8 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, October 26, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Weapon Night Sight Market ," The weapon night sight market was valued at $1.0 billion in 2021, and is estimated to reach $1.8 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.
North America is expected to dominate the global weapon night sight market. North America is projected to witness an increase in the adoption of weapon night sight by the defense agencies, owing to multiple military modernization and enhancement programs underway in the North America. In January 2019, EOTech, a division of L3Harris Technologies, Inc., signed a $ 26.3 million five-year contract with the US Special Operations Command (USSOCOM), to provide the US military with state-of-the-art holographic sights and optics with G33 clip magnifier.
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Tank utilizes weapon night sights for round-the-clock observation of terrain. In addition, vehicle-mounted weapon night sights are designed for viewing the field of combat in any weather conditions for the purpose of surveillance, detection and classification of stationery and moving targets.
The global weapon night sight market is experiencing growth due to upsurge in military spending, and government initiatives to protect nation from cross border disputes. However, high cost of weapon night sight devices is the factor hampering the growth of the market. Furthermore, defense modernization is the factor expected to offer growth opportunities during the forecast period.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the weapon night sight market analysis from 2021 to 2031 to identify the prevailing weapon night sight market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the weapon night sight market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global weapon night sight market trends, key players, market segments, application areas, and market growth strategies.
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KEY FINDINGS OF THE STUDY
By type, the vehicle-mounted weapon night sight segment is anticipated to exhibit significant growth in the near future.
By platform, the ground-based segment is anticipated to exhibit significant growth in the near future.
By technology, the imaging intensifier segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global weapon night sight market include BAE Systems Plc, Elbit Systems Ltd, Excelitas Technologies, L3Harris Technologies, Leonardo S.P.A, Optix CO, Raytheon Technologies Corporation, Rheinmetall AG, Rolta India Limited, Teledyne Flir LLC., Thales Group, and Thomasnet.
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David Correa
Allied Market Research
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